Santander Asset Management (SAM), a global company dedicated to managing assets internationally and 50% owned by Banco Santander and 50% by Warburg Pincus and General Atlantic, has attracted a total of 6.169 billion euros to its range of profiled funds, which are aimed at customers in the Banco Santander Select and private banking segments, representing 99% growth, in the last twelve months. As such, assets managed in these products were around 12.388 billion euros by the end of February while the number of Bank customers holding exceeded 220,000.
Profiled funds include Select, which combines the bulk of assets in this range of funds, along with private banking profiled funds in Spain (Santander PB Portfolio), Portugal (Santander Private), Chile (Santander Private Banking) and Mexico (Santander Elite). The Select range of funds, which has already been exported to eight countries, is a global investment solution aimed at adapting to both different market environments and each local customer's risk profile. Select profiled funds invest in a very broad universe of assets, selected through suitable asset allocation, providing access to the best domestic and international asset managers and allowing for dynamic investment management and rapid adjustment of positions based on each scenario.
The Spanish market has seen the greatest growth in this period, after increasing assets under management of 4.355 billion euros and reaching 7.213 billion euros, representing a 152% increase compared to March 2014. The Santander Select Prudent fund is notable, with assets reaching 3.449 billion euros, as is the Santander Select Moderate fund with 2.546billion euros. In Mexico, the Santander Asset Management profiled funds together total 1.073 million euros (the Santander Select Conservative fund has been the most popular offering, making up 350 million euros) after growing 92%, while 459 million euros have been reached in Chile (84% growth) with Santander Select Prudent being the largest at 226 million euros. Germany has recorded a 558 million euro volume (+80%) and Brazil 82 million euros (+91%). Assets are around 2.262 billion euros in the United Kingdom.
The Select fund range was launched in Spain at the end of 2010. The range was launched in Chile and Mexico in 2011 and 2012 respectively while they have been sold in Brazil and Germany since 2013. The most recent launches took place in 2014 in Portugal and Poland, with great commercial success in both countries with assets of 537 million euros and 206 million euros, respectively.
The three risk profiles on which the Select range relies (Prudent, Moderate and Determined/Dynamic) each investor the profile choice that best suits their needs and risk tolerance levels. The Prudent fund, aimed at more conservative investors, represents 42% of the total Select range assets. The Moderate fund, which have a greater weight in equity, represents 39% while the Determined/Dynamic fund, which has a more risk tolerant profile, represents 19%.